Hulu secures ‘Seinfeld’ SVOD streaming rights from Sony Pictures TV!
Hulu is one of the biggest digital streaming services and has made a major deal acquiring the streaming video-on-demand rights to the popular show ‘Seinfeld’.
Hulu made the deal with Sony Pictures TV which owned the right to stream episodes of the NBC comedy ‘Seinfeld’. Sony Pictures TV had the streaming rights on behalf of the original producers the Castle Rock TV for its off ‘Seinfeld’ 180 episodes.
The deal will be officially announced on Wednesday in New York City at the upfront presentation of Hulu to the advertisers, accoridng to LATimes. ‘Seinfeld’ will be made available on Hulu beginning from June. Hulu is currently co-owned by the 21st Century Fox Inc., the Walt Disney Co. and the Comcast Corp.
All the terms of the deal are not disclosed as of yet but some sources claim the earnings from streaming will be split among Sony TV and the profit participants of the series which includes ‘Seinfeld’ star Jerry Seinfeld and co-creator Larry David.
While some reports claim the deal has been set for 1 million dollars per episode. It would mean the entire nine seasons SVOD has been acquired by Hulu for a whopping $180 million, according to Variety.
The claims will be confirmed on Wednesday when Hulu will announce the terms of the deal during its advertisers event. The original producing company of ‘Seinfeld’ Castle Rock TV will also be entitled to the profit rights and all the parties involved will have an equal distribution reportedly.
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The acquisition of streaming rights is a major move for Hulu as ‘Seinfeld’ was a hit comedy show which ran for nine years. Analysts believe Hulu is stepping up its game on the digital front with rights to a classical comedy series. The news of ‘Seinfeld’ deal with Hulu was first reported by the Wall Street Journal.